UPDATE 1-Penske Auto quarterly earnings fall 44 percent

Newswire

* Q3 earnings per share 26 cents * Reduces worldwide employment by 4.3 percent * May implement additional cost-cutting actions * Withdraws full-year outlook DETROIT, Oct 30 (Reuters) - Car dealership group Penske Automotive Group Inc said on Thursday that quarterly earnings fell 44 percent on weak U.S. new vehicle sales and hurricane-related damage. The company, which cut worldwide employment levels by 4.3 percent in the third quarter, warned that it might implement further ...

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